Bayesian Capital Management LP Purchases Shares of 8,478 Knife River Co. (NYSE:KNF)

Bayesian Capital Management LP acquired a new stake in shares of Knife River Co. (NYSE:KNF) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,478 shares of the company’s stock, valued at approximately $687,000.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Knife River by 10.0% in the 4th quarter. Principal Financial Group Inc. now owns 211,265 shares of the company’s stock valued at $13,982,000 after buying an additional 19,125 shares during the period. UBS Group AG lifted its stake in Knife River by 115.5% during the fourth quarter. UBS Group AG now owns 136,505 shares of the company’s stock worth $9,034,000 after purchasing an additional 73,147 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Knife River by 16.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,398,360 shares of the company’s stock valued at $92,546,000 after purchasing an additional 199,389 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in shares of Knife River in the 1st quarter valued at approximately $4,408,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Knife River in the 4th quarter worth approximately $6,130,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Stephens began coverage on Knife River in a research note on Tuesday, June 18th. They set an “overweight” rating and a $85.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.67.

Knife River Price Performance

Knife River stock traded down $1.65 on Tuesday, reaching $78.98. The company’s stock had a trading volume of 717,333 shares, compared to its average volume of 396,431. Knife River Co. has a twelve month low of $42.72 and a twelve month high of $83.78. The company has a market cap of $4.47 billion and a price-to-earnings ratio of 25.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.75. The business’s fifty day moving average price is $72.26 and its 200 day moving average price is $73.34.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.04). Knife River had a net margin of 6.19% and a return on equity of 14.65%. The company had revenue of $329.60 million during the quarter, compared to analyst estimates of $300.98 million. During the same quarter in the previous year, the business posted ($516.50) EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that Knife River Co. will post 3.51 earnings per share for the current fiscal year.

Knife River Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.